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Qingdao Port plans IPO

Shanghai: Qingdao Port is in the process of preparing an initial public offering, likely to be launched on the Hong Kong stock market later this year. The port is reported to be in talks with a number of banking and security firms to finalise details for the listing, which will raise money needed for new projects, particularly improvements to the container facilities.

The port is also in the process of applying for government permission to convert an eight square kilometer area on its premises into a free trade zone to increase competitiveness.  [12/03/07]

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